AUD/JPY Technical Analysis: Acceptance above 78.15 could embolden bulls

Omkar Godbole FXStreet Contributor

AUD/JPY is currently trading at 77.95, having hit a low of 77.44 last week. The ongoing corrective rally could gather pace if the cross establishes higher high with a convincing move above 78.15 (resistance of Feb. 11 high). That would validate the bullish divergence of the hourly chart RSI, confirmed on Feb. 7 and allow a test of the 200-hour moving average (MA), currently at 78.67.

Hourly chart

Trend: bullish above 78.15

AUD/JPY

Overview:
    Today Last Price: 78.06
    Today Daily change: 8 pips
    Today Daily change %: 0.10%
    Today Daily Open: 77.98
Trends:
    Daily SMA20: 78.5
    Daily SMA50: 78.91
    Daily SMA100: 80.07
    Daily SMA200: 81.01
Levels:
    Previous Daily High: 78.16
    Previous Daily Low: 77.74
    Previous Weekly High: 79.85
    Previous Weekly Low: 77.44
    Previous Monthly High: 79.4
    Previous Monthly Low: 70.71
    Daily Fibonacci 38.2%: 78
    Daily Fibonacci 61.8%: 77.9
    Daily Pivot Point S1: 77.76
    Daily Pivot Point S2: 77.54
    Daily Pivot Point S3: 77.34
    Daily Pivot Point R1: 78.18
    Daily Pivot Point R2: 78.38
    Daily Pivot Point R3: 78.6

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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